Swiss National Bank grew its stake in Principia Biopharma Inc (NASDAQ:PRNB) by 170.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,200 shares of the company’s stock after purchasing an additional 26,600 shares during the period. Swiss National Bank owned about 0.13% of Principia Biopharma worth $2,312,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in PRNB. Redmile Group LLC boosted its holdings in Principia Biopharma by 223.6% during the third quarter. Redmile Group LLC now owns 790,006 shares of the company’s stock valued at $22,310,000 after purchasing an additional 545,906 shares in the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of Principia Biopharma in the third quarter valued at about $7,898,000. Candriam Luxembourg S.C.A. bought a new stake in shares of Principia Biopharma in the fourth quarter valued at about $3,612,000. Russell Investments Group Ltd. raised its holdings in shares of Principia Biopharma by 179.8% in the fourth quarter. Russell Investments Group Ltd. now owns 67,349 shares of the company’s stock valued at $3,690,000 after acquiring an additional 43,282 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Principia Biopharma by 1,693.7% in the second quarter. Morgan Stanley now owns 33,560 shares of the company’s stock valued at $1,114,000 after acquiring an additional 31,689 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.
In other news, insider Stefani Wolff sold 5,505 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $49.43, for a total value of $272,112.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martin Babler sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $52.96, for a total transaction of $1,324,000.00. The disclosure for this sale can be found here. Insiders sold a total of 42,000 shares of company stock valued at $2,298,262 in the last 90 days. 28.98% of the stock is currently owned by corporate insiders.
PRNB has been the subject of several recent research reports. HC Wainwright lifted their price objective on Principia Biopharma from to and gave the company a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus reiterated a “buy” rating on shares of Principia Biopharma in a research note on Tuesday, December 31st. Zacks Investment Research cut Principia Biopharma from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. BidaskClub upgraded Principia Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $82.00 price objective (up previously from $63.00) on shares of Principia Biopharma in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $64.40.
PRNB stock traded up $1.74 during trading on Wednesday, hitting $65.39. The company had a trading volume of 1,010 shares, compared to its average volume of 291,361. The firm has a 50-day moving average price of $62.25 and a 200-day moving average price of $44.41. Principia Biopharma Inc has a 12 month low of $25.35 and a 12 month high of $75.65. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -77.88 and a beta of 0.77.
About Principia Biopharma
Principia Biopharma Inc, a late-stage biopharmaceutical company, focuses on developing novel therapies for immunology and oncology. The company is developing PRN1008, an inhibitor that is in Phase III clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial to treat immune thrombocytopenic purpura.
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